The Indian Premier League seems to have caught the attention of Knowledge@Wharton, the Wharton School's online business journal.
Some excerpts from the article:
The franchisees are working overtime to ensure that the new format works. In Hyderabad, Deccan Chronicle is talking about hiring special trains to bring in fans from the hinterland. The train ride will be an experience in itself, with marketing men salivating at the thought of such a focused and captive audience, which also has time on its hands during the journey. In Kolkata, Shah Rukh Khan is planning a special women's stand, while he makes the occasional guest appearance. Meanwhile, the Delhi team has hired an Indian Institute of Management (Ahmedabad) alumnus, a 45-year-old former colonel in the Indian Army, as assistant vice-president (operations). Corporatization and professionalization are clearly the watchwords of the day.
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The franchisees are confident that they have a winner on their hands. "Cricket is the perfect platform for our brands to engage with young India," Mallya said, while launching his IPL team and logo. "The equity that our brands gain from this association is the real potential for us. We have tied up with Reebok for sporting gear and Louis Philippe for the formals. (Fashion designer) Manoviraj Khosla has designed special uniforms for the cheerleaders. Sale of merchandise and on-ground activities will be used to reach out to the Royal Challengers fan following. We are talking to several partners in the online space to tap young fans, create virtual clubs, explore mobile space and leverage the new media potential."
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Critics wonder if some companies have been bowled over by the glamour. India Cements vice-chairman and CEO N. Srinivasan had to spend most of an analysts' conference justifying the company's investment. "A misconception is that we are going to invest $90 million," he said. "We have committed ourselves to $9 million a year for the next 10 years for the franchise." By his calculation, there will be "not one rupee going out of my pocket". He added, "It is a win-win situation for India Cements. We should be applauded." But these calculations could be undone if television viewers don't tune in to watch the matches -- at least in the numbers that the sponsors expect.
